Qingjian Realty seeks to enhance the convenience of future residents with its Altura EC Qingjian Realty development, which is close to shopping malls, entertainment facilities, schools and open spaces. With few EC projects in the west, Altura EC Qingjian Realty will be a welcomed addition for homebuyers.

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Casa Feliz, a freehold residential development located at 81 Koon Seng Rd, District 15 is on the market for collective sale via tender with an indicative price of $23 million. The building is a three-storey walk-up apartment with 12 residential units and is close to the iconic Peranakan Houses in the Joo Chiat area.

It is located beside East Court, a freehold apartment that was sold to Macly Group for $19.875 million last year. The plot measures 13,976 sq ft with a gross plot ratio of 1.4, which means it could have a maximum gross floor area of 19,567 sq ft. Depending on approval by the relevant authority, a new development on the plot could potentially yield 18 residential units with an average size of 1,076 sq ft.

At the indicative price, Casa Feliz offers a land rate of $1,158 psf per plot ratio after factoring in 7% bonus balcony GFA. There is also an estimated land betterment charge of $1.25 million.

Tay Liam Hiap, managing director of investment sales at ERA Singapore, described the property as a “unique opportunity for developers who are actively looking for high-potential redevelopment sites”. He added that the location offers “convenience and tranquillity” as it is away from the city centre yet near to various amenities.

Shops and eateries line Joo Chiat Road, and five minutes away, one can find I12 Katong, Parkway Parade, KINEX and Paya Lebar Quarter Mall. Schools such as Tao Nan School, CHIJ (Katong) Primary, Haig Girls’ School, Tanjong Katong Primary School, Kong Hwa School, Maha Bodhi School, St Stephen’s School and Ngee Ann Primary School are also within 1km radius of the property.

Assuming the collective sale is successful, each unit owner stands to receive gross sale proceeds ranging between $1.85 million and $2.01 million. The tender for Casa Feliz will close on June 22 at 3pm.

Whether you are an investor or a potential developer, Casa Feliz offers a great opportunity. Check out the latest listings near the property and other nearby schools on EdgeProp.sg.